President of the African Development Bank (AfDB), Dr Akinwunmi Adesina has lamented a $165 billion drop in Africa’s Gross Domestic Product (GDP) which pushed 26 million people into poverty in 2020.
He said the dwindling economic fortunes of the continent pushed 30 million people into unemployment within the period.
Dr Adesina spoke at the 35th Ordinary Session of the Assembly of the African Union (AU) in Addis Ababa, the Ethiopian capital.
He stressed the need for leaders to protect lives by building healthcare infrastructure and vaccine producing factories.
Adesina said: “It has been a global economic cyclone. Africa witnessed a decline in GDP growth of 2.1 per cent in 2020, its lowest in 20 years. Africa’s GDP fell by $165 billion. Over 30 million jobs were lost and over 26 million people fell into extreme poverty.
“I wish to commend the leadership efforts of the African Union, and our Heads of State and Government, for the critical roles you have played in dealing with the pandemic and the socio-economic challenges in its wake. Today, thanks to these efforts 11 per cent of the population have been fully vaccinated, and another 16 per cent has been partially vaccinated.
“However, while developed countries have moved to booster shots, Africa is still struggling with basic shots.
“Your excellences, we must learn from this experience. Africa can no longer outsource the security of the lives of its 1.4 billion people to the benevolence of others. We must secure African lives!
“It is time for your excellences to build Africa’s healthcare defence system. This must be based on three strategic priorities. First, building Africa’s quality healthcare infrastructure. Second, building Africa’s pharmaceutical industry and third, building Africa’s vaccine manufacturing capacity.
